You can buy your first rental with just $15k out of your pocket, with that money you can buy a rental property that produces $200-250 net cash flow per month!

Generally, if there isn't a separate meter, landlord can't make tenant pay utilities as there is no way to truly decider what portion of the bill belongs to which tenant.

I'm having a really tough decision on which option to go with with my main goal being to live for free and potentially produce some cashflow. 

Besides the obvious costs like utilities, insurance, maintenance, and taxes, are there other ones I need to know about and what they would run?

The low money down and the ability to utilize a 203 B or K, that program is pretty nice. 

That is before other necessary costs such as utilities & water and other basics that are not necessary but often included anyway like phone, internet and cable. 

Recent price reduction of $120K and we got it under contract almost immediately after it was listed at the new lower price.We have done local rent surveys and we think we are competitive.We're still in the Due Diligence phase right now, and are getting: Appraisal, environmental study, HUD statement, utility details, insurance, financing.Anything that you think we should be considering here, either about this deal or about getting into an office building in general?

I am looking to learn how I can utilize this community of like minded people to begin developing a network of connections. 

hi everyone,my name is Antonio M. i am from NYC. i have always been very interested in starting a career in REI. i currently work for a major insurance company doing auto damage assessment in NYC. my wife and I currently own a 2 family home. i joined this site bc i want to soak up as much information as possible. my wife and I have comfortable decently paying jobs but we are a bit burdened with college loans...our current goal is to pay off all debt so we can focus all our money into purchasing cash flow producing real estate. i hope to learn much from all of you here and soon start setting up a good future for my 19month old son. if you could take a look at my first post it would be great. https://www.biggerpockets.com/forums/12/topics/608311-newbie-have-idea-of-using-heloc-to-supercharge-my-rei-start

Multifamily are typically produce better cash flow but a good deal on a SFH can out perform a multi.